I own a few shares of stock.
Its not worth very much and I keep getting offers to buy it through a special no broker fee offer.
I don’t want to sell.
I didn’t receive a tax statement from them for the last 2 years.
Also no dividends.
Isn’t it against the law not to send a statement?I used to get a quarterly statement and the year end tax statement.I’ve had nothing for the last 2 years.
How,who do I notify to make sure I’m not being cheated?
If they are not paying dividends, there isn’t any income to tax.
Have you tried asking for statement?
Don’t know who to ask.
Shouldn’t I be getting something that says “were alive and well just not making any money”?
If you used to get statements, presumably you have the address of the people that sent them to you? Or, if you’ve lost them, you should easily be able to find the registered address of any public company.
Yes. Contact the company. They probably have an investor relations department that can give you the information you need.
They should at the VERY least be sending you an annual report regardless of how many shares you own. Do you own the shares directly or is it through a company like Ameritrade?
Owned directly.
It was a spinoff deal.
I own some other stock and they started another company to do the military part of the buisness.It was supposed to make the regular stock do better.
In that case, you can contact investor relations at either the original company or the spinoff. Presumably, there was also some adjustment to your cost basis because of the spinoff, unless they just granted the new shares as a distribution, in which case you were supposed to have declared their value as income in the year they were granted (you should have gotten a 1099 in that case). In either case, you need to know the cost basis for the new shares. If you don’t have that information, that’s something you will need to know when you sell either. Very likely, X% of your original investment is now the basis for your original shares, (100-X)% the basis for the spinoff shares.
These days, if you go to the web page for the company, you are very likely to be able to find this sort of information under an “investor relations” link on their page. If you can’t find their page, look them up on yahoo:
http://finance.yahoo.com/q?s=XXX
where XXX is your symbol, and look under “profile”. Among the things they usually provide is the company’s web presence.